Baker Ellis Asset Management LLC Raises Holdings in Caterpillar Inc. (NYSE:CAT)

Baker Ellis Asset Management LLC lifted its stake in Caterpillar Inc. (NYSE:CAT) by 78.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,427 shares of the industrial products company’s stock after buying an additional 627 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Caterpillar were worth $523,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CAT. Bank of Nova Scotia raised its holdings in Caterpillar by 12.5% in the 3rd quarter. Bank of Nova Scotia now owns 47,708 shares of the industrial products company’s stock worth $13,024,000 after purchasing an additional 5,317 shares during the period. Morningstar Investment Services LLC acquired a new position in shares of Caterpillar during the third quarter valued at approximately $366,000. Richard Bernstein Advisors LLC raised its holdings in shares of Caterpillar by 13.3% during the third quarter. Richard Bernstein Advisors LLC now owns 15,061 shares of the industrial products company’s stock valued at $4,112,000 after acquiring an additional 1,767 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Caterpillar by 203.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 152,615 shares of the industrial products company’s stock valued at $41,664,000 after acquiring an additional 300,113 shares during the last quarter. Finally, Waverly Advisors LLC raised its holdings in shares of Caterpillar by 9.3% during the third quarter. Waverly Advisors LLC now owns 7,919 shares of the industrial products company’s stock valued at $2,162,000 after acquiring an additional 676 shares during the last quarter. Institutional investors and hedge funds own 70.98% of the company’s stock.

Insider Activity

In related news, Director David Maclennan acquired 500 shares of Caterpillar stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares in the company, valued at $1,935,943.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Caterpillar news, insider Cheryl H. Johnson sold 1,508 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $340.00, for a total value of $512,720.00. Following the sale, the insider now directly owns 20,023 shares in the company, valued at $6,807,820. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David Maclennan purchased 500 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $337.39 per share, for a total transaction of $168,695.00. Following the completion of the purchase, the director now owns 5,738 shares of the company’s stock, valued at $1,935,943.82. The disclosure for this purchase can be found here. Insiders own 0.33% of the company’s stock.

Caterpillar Trading Up 1.7 %

CAT opened at $333.10 on Friday. Caterpillar Inc. has a 52 week low of $223.76 and a 52 week high of $382.01. The business has a fifty day simple moving average of $340.31 and a 200-day simple moving average of $329.04. The firm has a market cap of $162.90 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.71 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.35 and a debt-to-equity ratio of 1.41.

Caterpillar (NYSE:CAT) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $5.60 EPS for the quarter, topping the consensus estimate of $5.12 by $0.48. The business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $16.07 billion. Caterpillar had a return on equity of 58.61% and a net margin of 16.79%. On average, equities analysts expect that Caterpillar Inc. will post 21.84 earnings per share for the current year.

Caterpillar announced that its board has authorized a share buyback plan on Wednesday, June 12th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 12.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Caterpillar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a $1.41 dividend. This is a boost from Caterpillar’s previous quarterly dividend of $1.30. This represents a $5.64 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Monday, July 22nd. Caterpillar’s dividend payout ratio (DPR) is presently 25.46%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CAT. HSBC increased their target price on Caterpillar from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Truist Financial began coverage on Caterpillar in a report on Thursday, March 14th. They set a “buy” rating and a $390.00 target price for the company. The Goldman Sachs Group increased their target price on Caterpillar from $357.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. TD Cowen increased their price target on Caterpillar from $338.00 to $340.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Raymond James started coverage on Caterpillar in a report on Friday. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $329.63.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.